Athena Consumer Acquisition said it will convene and adjourn a Sept. 21 shareholders meeting until Sept. 28 at 1:30 p.m. Eastern, when shareholders are expected to vote on a proposed merger with Germa EV aoutmaker e.Go. As a result, the redemption deadline has been moved back to Sept. 26.
At deal announcement a year ago, the transaction was expected to provide gross proceeds of up to approximately $285 million to e.GO. That was before redemptions ahead of six deadline extensions began to erode the cash in trust.
The e.Go deal has a $50 million minimum cash condition to close.
Athena lost 91% of its shares to redemptions ahead of an extension vote in January. The e.Go deal was announced in July 2022.
The SPAC has secured $15 million in bridge financing and now holds about $10.4 million in trust. Read more.
